Leasing Arrangements (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Components of Net Lease Cost, and Supplemental Disclosure for Statement of Cash Flows related to Operating and Finance Leases

The components of net lease cost were as follows:

		(dollars in millions)
Years Ended December 31,	Classification	2024		2023		2022
Operating lease cost(1)	Cost of services Selling, general and administrative expense	$	5,607	$	5,432	$	5,345
Finance lease cost:
Amortization of right-of-use assets	Depreciation and amortization expense	329		259		224
Interest on lease liabilities	Interest expense	98		69		36
Short-term lease cost(1)	Cost of services Selling, general and administrative expense	21		29		23
Variable lease cost(1)	Cost of services Selling, general and administrative expense	310		313		294
Sublease income	Service revenues and other	(216)		(210)		(199)
Total net lease cost		$	6,149	$	5,892	$	5,723

(1) All operating lease costs, including short-term and variable lease costs, are split between Cost of services and Selling, general and administrative expense in the consolidated statements of income based on the use of the facility or equipment that the rent is being paid on. See Note 1 for additional information. Variable lease costs represent payments that are dependent on a rate or index, or on usage of the asset.

Supplemental disclosure for the statements of cash flows related to operating and finance leases were as follows:

	(dollars in millions)
Years Ended December 31,	2024		2023		2022
Cash Flows from Operating Activities
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	(5,067)	$	(4,929)	$	(4,490)
Operating cash flows for finance leases	(98)		(69)		(36)
Cash Flows from Financing Activities
Financing cash flows for finance leases	(794)		(612)		(449)
Supplemental lease cash flow disclosures
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	4,385		2,634		2,392
Right-of-use assets obtained in exchange for new finance lease liabilities	1,051		968		832

Supplemental Disclosure for Balance Sheet related to Finance Leases

Supplemental disclosures for the balance sheet related to finance leases were as follows:

	(dollars in millions)
At December 31,	2024		2023
Assets
Property, plant and equipment, net	$	1,692	$	1,459
Liabilities
Debt maturing within one year	$	894	$	753
Long-term debt	1,455		1,338
Total Finance lease liabilities	$	2,349	$	2,091

Schedule of Weighted-Average Remaining Lease Term and Weighted-Average Discount Rate related to Leases

The weighted-average remaining lease term and the weighted-average discount rate of our leases were as follows:

At December 31,	2024		2023
Weighted-average remaining lease term (years)
Operating leases	8		8
Finance leases	3		3
Weighted-average discount rate
Operating leases	4.1	%	3.6	%
Finance leases	4.8	%	2.9	%

Lessee, Operating Lease, Liability, Maturity

The following table presents the maturity analysis of operating and finance lease liabilities as of December 31, 2024:

			(dollars in millions)
Years	Operating Leases		Finance Leases
2025	$	5,013	$	954
2026	4,685		714
2027	4,392		457
2028	3,004		248
2029	2,505		116
Thereafter	9,451		53
Total lease payments	29,050		2,542
Less interest	4,707		193
Present value of lease liabilities	24,343		2,349
Less current obligation	4,415		894
Long-term obligation at December 31, 2024	$	19,928	$	1,455

Finance Lease, Liability, Maturity

The following table presents the maturity analysis of operating and finance lease liabilities as of December 31, 2024:

			(dollars in millions)
Years	Operating Leases		Finance Leases
2025	$	5,013	$	954
2026	4,685		714
2027	4,392		457
2028	3,004		248
2029	2,505		116
Thereafter	9,451		53
Total lease payments	29,050		2,542
Less interest	4,707		193
Present value of lease liabilities	24,343		2,349
Less current obligation	4,415		894
Long-term obligation at December 31, 2024	$	19,928	$	1,455